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Real Estate Prices & Overview

Colony Acres median real estate price is $535,025, which is more expensive than 63.6% of the neighborhoods in Virginia and 68.5% of the neighborhoods in the U.S.

The average rental price in Colony Acres is currently $2,966, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 77.2% of the neighborhoods in Virginia.

Colony Acres is a suburban neighborhood (based on population density) located in Virginia Beach, Virginia.

Colony Acres real estate is primarily made up of medium sized (three or four bedroom) to large (four, five or more bedroom) single-family homes and townhomes. Most of the residential real estate is owner occupied. Many of the residences in the Colony Acres neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

In Colony Acres, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Colony Acres is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Virginia Beach, the Colony Acres neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

Real estate in the Colony Acres neighborhood is almost exclusively owner-occupied. NeighborhoodScout's analysis reveals that this neighborhood has a higher rate of owner-occupied housing than is found in 98.0% of U.S. neighborhoods. If you are seeking to rent, this neighborhood may not have many options, but high rates of ownership often indicate stability in a neighborhood. With a real estate vacancy rate of only 0.0%, the Colony Acres neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

In a nation where 1 out of every 4 children lives in poverty, the Colony Acres neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, astoundingly, NeighborhoodScout's research reveals that this single neighborhood has a higher concentration of married couples living here than 96.6% of all U.S. neighborhoods. Whether they have school-aged children or not, married couples are the rule in the Colony Acres neighborhood. If you are a married couple, you may find many people here with a similar lifestyle, and perhaps common interests. But if you are single, you might not find many other singles here.

Also, the Colony Acres neighborhood is a great option for families, as revealed by NeighborhoodScout's research on this neighborhood. The combination of top public schools, low crime rates, and owner-occupied single family homes, make this neighborhood among the top 5.9% of family-friendly neighborhoods in the state of Virginia. Many other families also live here, making it easy to socialize and develop a sense of community. In addition, families here highly value education, as is reflected by the strength of the local schools.

Occupations

The Colony Acres neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.9% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

Diversity

Did you know that the Colony Acres neighborhood has more Portuguese and Danish ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 5.1% of this neighborhood's residents have Portuguese ancestry and 3.1% have Danish ancestry.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Colony Acres neighborhood in Virginia Beach are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 83.6% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Colony Acres neighborhood, 52.2% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is manufacturing and laborer occupations, with 21.1% of the residents employed. Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants (18.8%), and 7.9% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Colony Acres neighborhood is English, spoken by 94.5% of households. Some people also speak Polish (3.7%).

Ethnicity / Ancestry

Culture is shared learned behavior. We learn it from our parents, their parents, our houses of worship, and much of our culture – our learned behavior – comes from our ancestors. That is why ancestry and ethnicity can be so interesting and important to understand: places with concentrations of people of one or more ancestries often express those shared learned behaviors and this gives each neighborhood its own culture. Even different neighborhoods in the same city can have drastically different cultures.

In the Colony Acres neighborhood in Virginia Beach, VA, residents most commonly identify their ethnicity or ancestry as Italian (15.4%). There are also a number of people of German ancestry (11.8%), and residents who report English roots (9.7%), and some of the residents are also of Irish ancestry (9.0%), along with some South American ancestry residents (8.3%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Colony Acres neighborhood spend between 30 and 45 minutes commuting one-way to work (35.2% of working residents), which is at or a bit above the average length of a commute across all U.S. neighborhoods.

Here most residents (79.9%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (11.6%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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